Reprocessed Medical Device Market SHARE, TREND, OPPORTUNITY AND FORECAST

Global Reprocessed Medical Devices Market

Reprocessed Medical Devices Market is one of the fast growing markets across the globe. There has been a significance rise in healthcare technology in the past few years to provide effective and affordable medical devices. Reprocessing medical devices are those that go under several processes of inspecting, cleaning, testing and sterilizing such that the devices remain active and safe for suitable clinical applications. However, continuous increase in medical wastes along with lack of support for waste disposal in healthcare industry raises the burden on environment further leads to deterioration of environmental conditions. These factors lead to environmental hazards and further raise the health concerns.

Rise in initiative by the public sector organizations with collaboration of government authorities towards reprocessing of medical devices likely to reduce the burden of medical waste disposal from the healthcare industries. Apart from this, reprocessing of medical devices helps the healthcare industry to reduce the cost of diagnosis and treatment. It is also beneficial from the consumers end in the near future. High level of cost savings as absence of material cost of the reprocessed medical devices likely to help the hospitals to minimize the pressure to control costs and meet sustainability goals.

Market size and forecast

The global reprocessed medical device market is expected to reach USD 4.95 Billion by 2021 from USD 0.76 Billion in 2013 and it is expected to grow at a CAGR of 19.55% over the forecast period i.e. 2015-2021. Globally, reprocessed medical device market is expected to grow exponentially as government initiatives are expected to rise in the near future globally.

With 51% share in global market, North-America accounted for the highest share in 2014 and it is expected to keep its dominance in the near future. The advancement of technology in healthcare industry and awareness towards reprocessed medical devices across the region of North-America is expected to raise the demand for reprocessed medical devices over the forecast period i.e. 2015-2021. Moreover, approximately USD 2 Billion to USD 3 Billion worth medical expenditure could be saved by adoption of reprocessed medical devices in hospitals and clinics across the region.

Europe reprocessed medical device market is expected to grow at a CAGR of 14.7% over the forecast period i.e. 2015-2021 and remain the second highest share contributor in terms of revenue. Rise in government initiatives towards reduction of medical waste and introduction of uniform regulations for medical device reprocessing is expected to drive the growth for reprocessed medical device industry across the European region.

Market Segmentation

Demand Analysis By Device Type

Cardiovascular Medical Devices

Blood Pressure Cuffs/Tourniquet Cuffs
Cardiac Stabilization and Positioning Devices
Deep Vein Compression Sleeves (DVT)
Diagnostic Electrophysiology Catheters
Electrophysiology Cables
Laparoscopic Medical Devices

Endoscopic Trocars and Components
Harmonic Scalpels
General Surgery Medical Devices

Balloon Inflation Devices
Infusion Pressure Bags
Orthopedic/ Arthroscopic Medical Devices

External Fixation Devices
Gastroenterology Medical Devices

Biopsy Forceps
Demand Analysis By End-User

Hospitals
Nursing Homes
Small Clinics
By Region

Reprocessed Medical Device Market is further classified on the basis of region as follows:

North America (U.S., Canada) Market Size and Y-O-Y Growth Analysis
Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Rest of World Market Size and Y-O-Y Growth Analysis
Growth Drivers and challenges

Increase in demand for reprocessed medical devices is expected to rise over the forecast period i.e. 2015-2021; driven by need to minimize the cost of clinical applications and diagnosis process to provide better and safe medical services. Further, high volume of medical waste generation and rising concern towards landfill is expected to adopt reprocessed medical devices by the hospitals and small clinics in the near future. In addition to that, the key factors such as low-cost, safe for clinical applications etc. are likely to spur the demand for reprocessed medical devices across the globe during the forecast period 2015-2021.

Furthermore, rising preferences by physicians towards single use reprocessed medical devices in order to maintain safety measures for patients along with significant reduction in medical waste to open new avenues for the reprocessed medical devices in near future.

Reprocessed medical device industry is a mix of organized and un-organized players. The dominance of un-organized players has led to the reduction in device cost over the past few years. This factor is projected to spike the consumption of reprocessed medical devices by physicians, creating a winning situation for the market players. Further, government initiatives in collaboration with several private healthcare organizations to promote reprocessed medical devices are expected to fuel the demand for reprocessed medical devices across the globe during the forecast period 2015-2021..However, presence of negative perceptions related to the quality of reprocessed medical devices and low adoption of reprocessed medical devices due to infection are some factors which are likely to hinder the growth of reprocessed medical device market across the globe.

Key Players

The key manufacturers of reprocessed medical devices across the globe as follows:

AESCULAP
Company Overview
Key Product Offerings
Business Strategy
SWOT Analysis
Financial
Moria
Pelion Surgical
Elite Medical
Millennium Surgical
Gsource LLC
Medicon eG
Stryker Company
Sklar
Integra LifeSciences Corporation
Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The Global Reprocessed Medical Device Market is segmented as follows:

By Device type Market Size and Y-O-Y Growth Analysis
By End-user Market Size and Y-O-Y Growth Analysis
By Regions

North America (U.S., Canada) Market Size and Y-O-Y Growth Analysis
Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Rest of World Market Size and Y-O-Y Growth Analysis
Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.